Webster Financial’s (WBS) “Outperform” Rating Reaffirmed at Raymond James

Webster Financial (NYSE:WBS)‘s stock had its “outperform” rating restated by analysts at Raymond James in a research report issued on Tuesday, Benzinga reports. They currently have a $60.00 price objective on the financial services provider’s stock. Raymond James’ target price indicates a potential upside of 20.51% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $59.00 price objective on shares of Webster Financial in a report on Wednesday, January 24th. Piper Sandler increased their price target on shares of Webster Financial from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, December 15th. StockNews.com cut shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Friday, March 8th. Barclays began coverage on shares of Webster Financial in a report on Friday, March 8th. They set an “overweight” rating and a $70.00 price target on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Webster Financial from a “neutral” rating to an “overweight” rating and increased their price target for the company from $60.00 to $65.00 in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.31.

Webster Financial Trading Down 0.4 %

NYSE WBS traded down $0.21 during trading on Tuesday, hitting $49.79. The company had a trading volume of 366,187 shares, compared to its average volume of 1,143,307. The company’s fifty day moving average is $48.47 and its 200-day moving average is $45.42. Webster Financial has a one year low of $31.03 and a one year high of $53.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. The company has a market cap of $8.55 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 0.33 and a beta of 1.32.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The company had revenue of $996.96 million during the quarter, compared to the consensus estimate of $674.82 million. During the same period in the previous year, the company earned $1.60 earnings per share. On average, sell-side analysts predict that Webster Financial will post 5.92 earnings per share for the current year.

Insiders Place Their Bets

In other Webster Financial news, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the completion of the transaction, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the transaction, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the transaction, the insider now directly owns 27,955 shares of the company’s stock, valued at $1,330,658. The disclosure for this sale can be found here. Insiders sold 34,941 shares of company stock valued at $1,796,482 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new stake in shares of Webster Financial in the 4th quarter valued at about $1,080,000. Hennessy Advisors Inc. bought a new stake in shares of Webster Financial in the 4th quarter valued at about $1,624,000. ICA Group Wealth Management LLC bought a new stake in shares of Webster Financial in the 4th quarter valued at about $84,000. Covenant Partners LLC bought a new stake in shares of Webster Financial in the 4th quarter valued at about $210,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Webster Financial in the 4th quarter worth approximately $395,000. Institutional investors own 86.37% of the company’s stock.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.